Dronfield – Freehold Neighbourhood Retail Centre Investment

Income

£466,600 pa

Description

• A busy neighbourhood scheme comprising 15 retail units, 7 flats and a garage.
• Dronfield is a popular residential suburb between Sheffield and Chesterfield.
• Freehold.
• The centre comprises a mix of national and local occupiers. National tenants include Betfred, McColl’s, Barnardo’s and Cooplands.
• Marketing Rent of £466,600 per annum subject to vendor top up on Unit 5.
• 47% of the income is secured to Midland Co-operative Society.
• Successful scheme with an AWULT of 3.36 years to expiry and 2.58 years to break.
• Large car park comprising approximately 50 spaces.
• Total site area of 1.85 acres providing the potential for future development.
• Asset management opportunities with 7 flats.
• Opportunity to replace local covenants with national multiples.
• We are instructed to seek offers in excess of £3,500,000 subject to contract. A purchase at this level would reflect a net initial yield of 12.5% subject to standard purchaser’s costs.